COBIT 4.0 Is anyone using this revision yet? 1359

  • Has anyone received any guidance as to when the external auditors will move to the new COBIT 4.0 standard. I asked our externals today if they’d require that we modify our controls in order to meet the new COBIT 4.0 revsion for Q1 of this year. As expected the answer wasn’t very decisive. Has anyone been given any guidance yet as to whether or not they need to comply with the revised version?

  • As a matter of information, one of the SOX IT Tools, Oracle Internal Controls Manager integrates CobiT 4.0 into the compliance tool.

  • Actually, I’m in a project with a client to implement Cobit 4.0. Their controls are designed based in Cobit 3.0 and we’re working on the gaps analysis. Depending on the results and impact , changes will be evaluated.

  • Frankly most of the externals auditors (Big 4 mainly) are not even aware about how controls were eventually derived from COBIT. Most of them have little or no idea about COBIT standard to make a judgment.
    The new release of ITGI document maps the ELC and process level controls based on COBIT V4 and if you have time you can make a mapping between them and V3/V4 to decide where it has changed. I believe some reduction in ELC should be possible.
    It would be interesting to know other members view point here on how they are approaching the reduction based on new release of COBIT (if its possible at all due to some changes in new revision)

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